Ukraine Gets $1.5 Billion From China for Grain Purchases

Ukraine received $1.5 billion from the Export-Import Bank of China under a credit agreement to finance grain purchases, the Eastern European country’s Agriculture Minister Mykola Prysyazhnyuk said.

The money will be used by Ukraine’s state-managed Food and Grain Corp. to forward-buy 2 million metric tons of barley, wheat and corn from local producers, Prysyazhnyuk told reporters today in the capital, Kiev. Another 2 million tons of grains will be bought on spot markets, he said.

All grain will then be exported to China, the minister said, without giving a timeframe.

To contact the reporter on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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